Newmi Care, a full-stack outpatient care platform & clinics focused on women’s health and wellness announced that it has raised $1.5 million in a Seed funding round led by Sprout Venture Partners.
The round also included participation from a leading family office, LetsVenture, Sarcha Advisors, Key Ventures Forum and marquee Angels.
The newly raised capital will be used to build its women’s clinics in North and West India, enhancetechnology and product innovation and expand its team.
Founded in May 2022 by Sanchit Agarwal and Aditi Mittal, Newmi Care aims to simplify outpatient care for women while offering wellness products such as PCOS tea, supplements, menstrual cups, and maternity clothing.
Since its inception in May 2022, Newmi Care has serviced more than 60,000 women across 400 cities in India covering health concerns ranging from menstrual, sexual & hormonal health, fertility & maternity, menopause and women’s reproductive organ cancers.
Newmi has launched multiple market-first solutions including women-centric OPD insurance products along with leading insurers. Newmi currently has 10 operational clinics in Delhi/NCR.
“We are on a mission to simplify outpatient care for women in India and bring women health to forefront. This capital infusion is a step to move closer to our path to solve for women health at scale in India. We are thrilled to have the support of Sprout and other partners, which will help us take the next big steps toward achieving our mission,” said Sanchit and Aditi founders of Newmi Care.
“We are proud to back Sanchit and Aditi for building for a wonderful cause. My best wishes to the team in providing positive outcomes to all stakeholders,” said Rohit Chanana, Partner at Sarcha Advisors.
“We see a clear opportunity in building a trusted brand in the women’s health lifecycle space. We have seen this play out in some of the other healthcare categories. This will be a large market in future with the growing awareness of health lifecycle amongst the next generation of women. Newmi is looking to solve this problem with its unique omnichannel approach and innovative product offerings. Sanchit and Aditi are a great team to execute this, and we are excited to back them in this journey,” said Sahil Gupta, Partner at Sprout.
Sprout Venture Partners, founded in 2017 by Sahil Gupta and Sunil Jain, has a strong track record of supporting early-stage startups. The firm is currently investing from its second fund and has a diverse portfolio that includes companies such as Pixis, Ripplr, Fashor, and Advantage Club.
Maneesh Bhandari, CEO of GrowthPal and the Investor Forum’s member shared his thoughts, “Very excited to be part of the journey with Newmi founders Sanchit and Aditi. Women’s health requires focused, specialised and continuous proactive attention and that along with founders’ passion and personal & professional experiences, makes this venture very special. Key Venture was instrumental in evaluating, syndicating and facilitating the investment for Newmi, and our investor group through KVIF had a very pleasant and sincere experience working with the entire Key Venture team.”
Nidhi Saraf, CEO & Co-Founder of Key Venture, “Newmi’s model of payor and provider ensures a patient is provided with solutions customsied to one’s needs across the value chain thereby increasing value for both patients and the healthcare service providers. This unique proposition coupled with the founding team’s expertise in strategy and building consumer brands sets the company for profitable hypergrowth.”
